The Parking Lease Agreement serves as a legally binding contract under Philippine jurisdiction for the rental of parking spaces in various contexts, including commercial buildings, residential complexes, and standalone parking facilities. This document is essential when formalizing arrangements for dedicated parking space usage, whether for individual vehicles or fleet management. It incorporates requirements from the Civil Code of the Philippines, local government regulations, and building codes, while addressing practical aspects such as access rights, security measures, and maintenance responsibilities. The agreement is particularly relevant in urban areas where parking space is premium and requires clear documentation of rights and obligations between parties.
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1. Parties: Identification of the lessor (parking space owner) and lessee (tenant), including complete legal names and addresses
2. Background: Context of the agreement, including property location and purpose of the lease
3. Definitions: Key terms used throughout the agreement including 'Parking Space', 'Common Areas', 'Vehicles', etc.
4. Lease Grant: Specific details of the parking space(s) being leased, including exact location and dimensions
5. Term and Renewal: Duration of the lease agreement and conditions for renewal
6. Rent and Payment Terms: Amount, payment schedule, security deposit, and payment methods
7. Use and Access: Rules regarding usage, access hours, security protocols, and permitted vehicles
8. Maintenance and Repairs: Responsibilities for maintaining the parking space and surrounding areas
9. Insurance and Liability: Required insurance coverage and allocation of risks between parties
10. Default and Remedies: Events constituting default and available remedies
11. Termination: Conditions and procedures for early termination
12. Governing Law: Specification of Philippine law as governing law and jurisdiction
13. Miscellaneous: Standard provisions including notices, amendments, and entire agreement clause
1. Security Deposit Interest: Include when local regulations require interest payment on security deposits
2. Subletting: Include when subletting of the parking space is to be permitted
3. Utilities: Include when the parking space includes electrical charging or other utility services
4. Building Rules: Include when parking is part of a larger building complex with specific rules
5. Environmental Compliance: Include for enclosed parking spaces requiring ventilation and environmental controls
6. Valet Services: Include when valet parking services are provided
7. Vehicle Maintenance: Include if any vehicle maintenance or washing is permitted in the space
1. Schedule A - Parking Space Plan: Detailed plan showing exact location and dimensions of the parking space
2. Schedule B - Building Rules and Regulations: Copy of applicable building or facility rules affecting parking
3. Schedule C - Fee Schedule: Detailed breakdown of rent, deposits, and any additional charges
4. Schedule D - Access Protocol: Details of access cards, keys, or systems for entering the parking facility
5. Appendix 1 - Insurance Requirements: Detailed insurance requirements and minimum coverage amounts
6. Appendix 2 - Maintenance Schedule: Schedule of regular maintenance activities and responsibilities
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Management
Commercial Property
Retail
Hospitality
Office Space Management
Residential Property
Parking Management
Facilities Management
Transportation
Shopping Centers
Corporate Services
Relevant Teams
Legal
Operations
Facilities Management
Property Management
Real Estate
Administrative
Compliance
Risk Management
Asset Management
Contract Management
Relevant Roles
Property Manager
Facility Manager
Real Estate Manager
Building Administrator
Operations Manager
Legal Counsel
Contract Administrator
Asset Manager
Leasing Manager
Property Administrator
Building Superintendent
Real Estate Officer
Compliance Officer
Risk Manager
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